Insider Selling: Ultragenyx Pharmaceutical (NASDAQ:RARE) CFO Sells $107,897.82 in Stock

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) CFO Howard Horn sold 7,066 shares of the business’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $15.27, for a total transaction of $107,897.82. Following the sale, the chief financial officer owned 89,229 shares in the company, valued at $1,362,526.83. This trade represents a 7.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE opened at $15.92 on Thursday. The company’s 50-day simple moving average is $18.15 and its 200-day simple moving average is $23.46. Ultragenyx Pharmaceutical Inc. has a 1 year low of $12.73 and a 1 year high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.32. The business had revenue of $214.00 million during the quarter, compared to analyst estimates of $183.08 million. During the same quarter last year, the firm posted ($1.17) EPS. The company’s revenue for the quarter was up 28.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -3.91 earnings per share for the current fiscal year.

Institutional Trading of Ultragenyx Pharmaceutical

Several hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in Ultragenyx Pharmaceutical by 662.9% in the second quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 1,001 shares during the last quarter. Quantbot Technologies LP acquired a new position in Ultragenyx Pharmaceutical during the 2nd quarter worth approximately $48,000. Harbor Investment Advisory LLC purchased a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at approximately $52,000. Parallel Advisors LLC increased its position in shares of Ultragenyx Pharmaceutical by 778.4% in the 1st quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 1,440 shares during the last quarter. Finally, Leonteq Securities AG increased its position in shares of Ultragenyx Pharmaceutical by 288.5% in the 1st quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,333 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank Of Canada downgraded shares of Ultragenyx Pharmaceutical from a “moderate buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Morgan Stanley increased their price objective on Ultragenyx Pharmaceutical from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, September 18th. Wedbush reduced their price objective on Ultragenyx Pharmaceutical from $30.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, September 3rd. Wall Street Zen upgraded Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Robert W. Baird cut Ultragenyx Pharmaceutical from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $40.00 to $16.00 in a research note on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $33.65.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company concentrates on conditions with significant unmet medical needs, including genetic, metabolic and endocrine disorders, and uses biologics, small molecules and gene therapy approaches in its research and development programs.

Ultragenyx’s commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII; and Dojolvi (triheptanoin), a therapy for long-chain fatty acid oxidation disorders.